First lot of 5 million new Rs 500 notes sent to RBI

Rs 500 note

“The CNP has already sent the first consignment of five million pieces of the new Rs 500 note and another five million pieces are to be dispatched by Wednesday,” said a CNP official on Saturday.

The source also revealed that a total of 400 million pieces of Rs 500 note are to be printed CNP by the end of the current financial year.

On fateful evening of Tuesday, PM Modi led central government scrapped Rs 500 and Rs 1,000 currency notes and announced new denomination of Rs 500 and Rs 2,000. While banks are circulating Rs 2,000 notes, the new Rs 500 note is yet to be introduced.

Through out the country, a complete chaos and total disarray is witnessed at Banks and ATMs due to shortage of currency notes. Though government and RBI has assured that there is no shortage of printed currency, thousands of people across the country are denied cash exchange or withdrawal after waiting for hours in the queue. Snarling queues has become a common sight at every bank and ATM.

The CNP is one of the nine units of the SPCIL or Security Printing and Minting Corporation of India Ltd. The official also said that the press is also printing Rs 20, Rs 50 and Rs 100 notes in a large number.

Reportedly Rs 2,000 and Rs 500 notes are already printed at 2 printing units — Mysore (Karnataka) and Salboni (West Bengal). While Rs 500 note is being printed at SPMCIL’s two presses in Nashik and Dewas of Madhya Pradesh.

Wefornews Bureau

 

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